Editor's Note: This news item was retrieved and first published through Yahoo Finance's website.
CHICAGO, Ill. - Equity Lifestyle Properties Inc. (ELS), owner of the Thousand Trails and Encore families of RV parks as well as more than 200 manufactured housing communities nationwide, announced funds from operations of $108.6 million, or 56 cents per share for its Third Quarter ending Sept. 30, 2019. According to an Associated Press story, this beat Wall Street expectations, where analysts had anticipated funds from operations, a closely watched measure in the REIT industry, of 54 cents per share. ELS reported net income of $64.5 million and revenue of $271.2 million for the period.
Equity Lifestyles shares have increased by 42% since the beginning of 2019. A self-administered, self-managed real estate investment trust (REIT) headquartered in Chicago, ELS in September announced a two-for-one stock split of its common stock which took place on October 15, 2019. The company paid a third quarter 2019 dividend of $0.6125 per share of common stock on Oct. 11.